Seagate Technology (STX) Tops Q1 EPS by 5c; Guides Above at Midpoint

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Seagate Technology Reports Fiscal First Quarter 2021 Financial Results

October 22, 2020 4:05 PM EDT

Revenue of $2.31 billion

GAAP operating margin of 10.8%; non-GAAP operating margin of 12.7%

GAAP diluted earnings per share (EPS) of $0.86; non-GAAP diluted EPS of $0.93

Cash flow from operations of $297 million and free cash flow of $186 million

Raised the quarterly cash dividend by 3% to $0.67 per share

Approved a $3 billion increase to the share repurchase authorization, bringing the available amount to $4.2 billion

FREMONT, Calif.--(BUSINESS WIRE)-- Seagate Technology plc (NASDAQ: STX) (the Company or Seagate) today reported financial results for its fiscal first quarter ended October 2, 2020.

"Seagate delivered solid September quarter results... More